July 23, 2020 / 2:32 PM / 14 days ago

CANADA STOCKS-TSX falls on weaker oil prices, coronavirus fears

July 23 (Reuters) - Energy stocks pressured Canada’s main stock index on Thursday, as oil prices fell on concerns about rising U.S. oil inventories and surging coronavirus cases.

* Coronavirus cases in the United States approached 4 million on Thursday, with more than 2,600 new cases every hour on average, the highest rate in the world, a Reuters tally showed.

* At 9:43 a.m. ET (1343 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 26.78 points, or 0.17%, at 16,144.28.

* Healthcare sector fell 1.8%, leading losses in the region, with kidney drug developer Aurinia Pharmaceuticals Inc tumbling 9.6% after the company raised about $200 million in a discounted stock offering.

* The energy sector dropped 1.7% as U.S. crude prices were down 0.7% a barrel, while Brent crude lost 0.8%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.7%.

* On the TSX, 92 issues were higher, while 124 issues declined for a 1.35-to-1 ratio to the downside, with 13.04 million shares traded.

* The largest percentage gainer on the TSX was Teck Resources Ltd, which jumped 7.3%, after the mining company posted second quarter results.

* Its gains were followed by Mullen Group Ltd, which rose 4.7%, after the company reported quarterly revenue above analysts’ expectations.

** Ballard Power Systems Inc, down 8.5%, was among the biggest decliners.

* The most heavily traded shares by volume were Bombardier Inc, Kelt Exploration Ltd and Karora Resources Inc.

* The TSX posted no new 52-week high and no new low.

* Across all Canadian issues there were 25 new 52-week highs and one new low, with total volume of 37.18 million shares. (Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)

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